Stockholders' equity

9 Months Ended

Sep. 30, 2016

Stockholders’ Equity

Stockholders’ Equity

Note 11. Stockholders’ equity

Common Stock

As of September 30, 2016, the Company had reserved 7,220,893 common stock shares for issuance under its stock option plans and 776,613 common stock shares for issuance under its employee stock purchase plan.

Resale Registration Statement

In April 2015, the Company filed the 2015 Registration Statement, which registered 4,972,905 shares of the Company’s common stock, at a par value of $0.0025 per share, held by Rusnano. The Company does not receive any proceeds from any sales of the Company’s common stock held by Rusnano (See Note 10).

Follow-On Public Offering

In the second quarter of 2015, the Company completed the 2015 Follow-On Offering, in which the Company sold 6,866,689 shares of its common stock, including 895,655 shares of common stock sold upon the exercise in full of the overallotment option by the underwriters, at a public offering price of $7.25 per share. The Company raised approximately $45.6 million, net of underwriting discounts of $3.0 million and other offering expenses of approximately $1.2 million.

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of related taxes, were as follows (in thousands):

	Foreign Currency Translation Adjustments		Unrealized Gain (Loss) on Available-For-Sale Securities		Defined Benefit Pension Plan Adjustment		Total Accumulated Other Comprehensive Loss
Balance at December 31, 2015	$	(1,595)	$	(29)	$	(99)	$	(1,723)
Other comprehensive income, net of taxes of zero and reclassifications		292		33		—		325
Balance at September 30, 2016	$	(1,303)	$	4	$	(99)	$	(1,398)

No material amounts were reclassified out of accumulated other comprehensive income during the three and nine months ended September 30, 2016 and 2015 for realized gains or losses on available-for-sale securities.

Accumulated Deficit

Approximately $7.9 million of the Company’s retained earnings within its total accumulated deficit at December 31, 2015 was subject to restriction due to the fact that the Company’s subsidiaries in China are required to set aside at least 10% of their respective accumulated profits each year end to fund statutory common reserves as well as allocate a discretional portion of their after-tax profits to their staff welfare and bonus fund.